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A couple of weeks ago, I detailed how communication services company CenturyLink (CTL) had made more progress on its debt situation. The firm was able to use a $1.2 billion debt offering to refinance some of its Level 3 subsidiary's debt, bringing down its interest costs and pushing back some debt maturities a number of years. As the quarter wrapped up, the company announced another debt move, which, when combined with progress made during the quarter, will certainly help the bottom line.
In the above article, I mentioned that in a separate transaction,